C2C1Part 18Acquisition by limited company of its own shares
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
Chapter 6Treasury shares
I1730Treasury shares: notice of cancellation
1
Where shares held by a company as treasury shares are cancelled, the company must deliver a return to the registrar not later than 28 days after the shares are cancelled.
This does not apply to shares that are cancelled forthwith on their acquisition by the company (see section 708).
2
The return must state with respect to shares of each class cancelled—
a
the number and nominal value of the shares, and
b
the date on which they were cancelled.
3
Particulars of shares cancelled on different dates may be included in a single return.
4
The notice must be accompanied by a statement of capital.
5
The statement of capital must state with respect to the company's share capital immediately following the cancellation—
a
the total number of shares of the company,
b
the aggregate nominal value of those shares,
F1ba
the aggregate amount (if any) unpaid on those shares (whether on account of their nominal value or by way of premium), and
c
for each class of shares—
i
prescribed particulars of the rights attached to the shares,
ii
the total number of shares of that class, and
iii
the aggregate nominal value of shares of that class, F2...
F2d
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
If default is made in complying with this section, an offence is committed by—
a
the company, and
b
every officer of the company who is in default.
7
A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.
Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))